$META Stock Faces 30-Point Turn, Approaches 20% Drawdown Amid Attempts to Reclaim 50-Day Moving Average

$META experienced notable fluctuations in its stock performance, with a nearly 30-point turn after testing its 100-day moving average. Analysts observed that the stock is trying to reclaim its 50-day moving average on the upside. However, it has faced challenges, with reports indicating a loss of nearly $150 since a previous sale, leading to a drawdown approaching 20%. Some traders are expressing caution, suggesting the stock could break below the $600 mark if it does not stabilize.